JGM - Internal Audit

Essar Group; Mumbai; On-site; INR 4,000,000 - 9,000,000; Full time

Job summary

Essar Group in Mumbai seeks an experienced Senior Internal Auditor to develop and execute the annual internal audit plan based on business risks and management priorities. You will lead risk-based audits covering finance, operations, sales, procurement, inventory, HR, projects and other functions across locations.

The role requires evaluating controls, identifying gaps, reporting findings with root causes and recommendations, mentoring the audit team, and continuously improving audit

Qualifications

• CA / CIA / CMA / MBA Finance or relevant professional qualification preferred.
• 12–18 years of experience in Internal Audit, Risk, Controls, Finance or related functions.
• Proven experience in leading risk-based audits and managing audit teams.

Responsibilities

• Develop and execute the annual internal audit plan based on business risks and management priorities.
• Lead risk-based audits covering finance, operations, sales, procurement, inventory, HR, projects and other business functions.
• Evaluate the adequacy and effectiveness of internal controls, policies and operating procedures.
• Identify control weaknesses, process gaps, financial risks, compliance issues and potential areas of leakage.
• Conduct process, operational, financial and compliance audits across locations/business units.
• Review transactions, systems, processes and supporting documentation to ensure accuracy and compliance.
• Assess adherence to company policies, SOPs, delegated authority and statutory requirements.
• Review inventory, procurement, vendor management, revenue, expenses, receivables and other key risk areas.
• Identify opportunities for cost optimization, loss prevention, process improvement and operational efficiency.
• Investigate suspected fraud, irregularities, financial leakages and policy violations as required.
• Prepare comprehensive audit reports highlighting observations, root causes, risk implications and recommendations.
• Discuss audit findings with process owners and senior management and agree on corrective action plans.
• Monitor and report the status of audit observations and ensure timely closure of agreed actions.
• Conduct follow-up audits to validate implementation and effectiveness of corrective measures.
• Develop and maintain an effective internal control framework in coordination with business functions.
• Use data analytics and audit tools to identify unusual transactions, trends and potential risks.
• Coordinate with Statutory Audit, Internal Audit consultants, Tax, Compliance and other assurance functions where required.
• Present significant audit findings, risk areas and action status to senior management/Audit Committee.
• Ensure audit activities are conducted objectively, independently and in accordance with professional standards.
• Lead, mentor and develop the internal audit team.
• Continuously improve audit methodologies, processes, reporting formats and risk-assessment techniques.

Skills

Internal audit

Risk-based auditing

ERP systems

MS Excel

Data analytics

Stakeholder management

Report writing

Team leadership

Education

CA / CIA / CMA / MBA Finance

Tools

ERP systems

Audit/data-analytics tools

Job description

Job Description:

Key Responsibilities

• Develop and execute the annual internal audit plan based on business risks and management priorities.


• Lead risk-based audits covering finance, operations, sales, procurement, inventory, HR, projects and other business functions.


• Evaluate the adequacy and effectiveness of internal controls, policies and operating procedures.


• Identify control weaknesses, process gaps, financial risks, compliance issues and potential areas of leakage.


• Conduct process, operational, financial and compliance audits across locations/business units.


• Review transactions, systems, processes and supporting documentation to ensure accuracy and compliance.


• Assess adherence to company policies, SOPs, delegated authority and statutory requirements.


• Review inventory, procurement, vendor management, revenue, expenses, receivables and other key risk areas.


• Identify opportunities for cost optimization, loss prevention, process improvement and operational efficiency.


• Investigate suspected fraud, irregularities, financial leakages and policy violations as required.


• Prepare comprehensive audit reports highlighting observations, root causes, risk implications and recommendations.


• Discuss audit findings with process owners and senior management and agree on corrective action plans.


• Monitor and report the status of audit observations and ensure timely closure of agreed actions.


• Conduct follow-up audits to validate implementation and effectiveness of corrective measures.


• Develop and maintain an effective internal control framework in coordination with business functions.


• Use data analytics and audit tools to identify unusual transactions, trends and potential risks.


• Coordinate with Statutory Audit, Internal Audit consultants, Tax, Compliance and other assurance functions where required.


• Present significant audit findings, risk areas and action status to senior management/Audit Committee.


• Ensure audit activities are conducted objectively, independently and in accordance with professional standards.


• Lead, mentor and develop the internal audit team.


• Continuously improve audit methodologies, processes, reporting formats and risk-assessment techniques.

Key Skills

• Strong knowledge of internal audit and risk-based auditing.


• Internal controls and process-risk assessment.


• Financial and operational audit.


• Fraud detection and investigation.


• Risk management and governance.


• Strong analytical and data interpretation skills.


• Excellent report-writing and presentation skills.


• Ability to challenge processes and influence senior stakeholders.


• Strong understanding of accounting and financial processes.


• Good knowledge of ERP systems, MS Excel and audit/data-analytics tools.


• Strong leadership, communication and team-management skills.

Qualification & Experience

• CA / CIA / CMA / MBA Finance / relevant professional qualification preferred.


• 12–18 years of experience in Internal Audit, Risk, Controls, Finance or related functions.


• Proven experience in leading risk-based audits and managing audit teams.


• Experience in multi-location or diversified business environments will be an advantage.

Key Performance Indicators (KPIs)

• Completion of approved annual audit plan.


• Timely issuance of audit reports.


• Quality and relevance of audit observations.


• Identification and mitigation of significant business risks.


• Timely closure of audit observations.


• Reduction in recurring control weaknesses.


• Cost-leakage and process-improvement opportunities identified.


• Fraud/irregularity detection and prevention.


• Effectiveness of internal-control improvements.


• Stakeholder satisfaction and Audit Committee reporting quality.

Requirements: